Indicators of economy in Saint Vincent and the Grenadines
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Saint Vincent and the Grenadines, on the other hand, reached USD 8,666 per capita, or 904.18 million USD for the whole country. Saint Vincent and the Grenadines is currently at number 197 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant, taking purchasing power parity into account, then Saint Vincent and the Grenadines ranks 95th in the list of the richest countries.Inflation in Saint Vincent and the Grenadines in 2021 was around 1.57%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 37.0 percent lower.
The index for perceived corruption in the public sector is 59, which is rather mediocre by global standards.
Back to overview: Saint Vincent and the Grenadines
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Saint Vincent and the Grenadines in 2020 decreased moderatly from 910.15 million US dollars to 872.13 million US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 4.2 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 67 percent. The unemployment rate rose from 19.3 to 21.0 percent. The inflation rate fell from 0.9 percent previously to -0.6 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Saint Vincent and the Grenadines Total | Saint Vincent and the Grenadines per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 904.18 m USD | 8,666.39 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 909.57 m USD | 8,718.04 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in millions of USD 1960 - 2021
› Debt budget development
› Development of inflation
› Corruption in Saint Vincent and the Grenadines
› Cost of living in a global comparison
› Development of inflation
› Corruption in Saint Vincent and the Grenadines
› Cost of living in a global comparison
Imports and Exports 2021
Saint Vincent and the Grenadines Total | Saint Vincent and the Grenadines per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 415.73 m USD | 3,984.68 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 125.78 m USD | 1,205.57 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in millions of USD 1978 - 2021
Exports
Imports